In yesterday’s Wall Street session, Coherent Corp (NYSE:COHR) shares traded at $76.63, up 7.51% from the previous session.
COHR stock price is now 9.30% away from the 50-day moving average and 38.34% away from the 200-day moving average. The market capitalization of the company currently stands at $11.68B.
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With the price target enhanced from $72 to $84, Needham maintained Buy rating for Coherent Corp (NYSE: COHR). On August 12, 2024, BofA Securities Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $65 to quote $75, while ‘Barclays’ rates the stock as ‘Overweight’
In other news, Koeppen Christopher, Chief Innovation Officer sold 2,000 shares of the company’s stock on Aug 15 ’24. The stock was sold for $142,016 at an average price of $71.01. Upon completion of the transaction, the Chief Innovation Officer now directly owns 64,608 shares in the company, valued at $4.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 15 ’24, Director VINCENT D MATTERA JR bought 5,000 shares of the business’s stock. A total of $334,950 was incurred on buying the stock at an average price of $66.99. A total of 1.86% of the company’s stock is owned by insiders.
During the past 12 months, Coherent Corp has had a low of $28.47 and a high of $80.93. As of last week, the company has a debt-to-equity ratio of 0.57, a current ratio of 2.72, and a quick ratio of 1.77. The fifty day moving average price for COHR is $70.3046 and a two-hundred day moving average price translates $55.6311 for the stock.
The latest earnings results from Coherent Corp (NYSE: COHR) was released for 2024-06-30. The net profit margin was -5.94% and return on equity was -2.11% for COHR. The company reported revenue of $1.31 billion for the quarter, compared to $1.21 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.07 percent.
